by Rick Nason, PhD, CFA
Partner, RSD Solutions Inc.
I recently re-read Ayn Rand’s book the Fountainhead. The book – which was first published in 1943 is the sister novel of her perhaps more famous novel Atlas Shrugged.
Two of the main characters in the book are Howard Roark and Peter Keating. While the book has many plots and sub-plots, and can be read on a number of different levels, the main plot of the book follows the careers of these two gentlemen as they make their way in the field of architecture.
Peter Keating is the epitome of success. He graduates at the first of his class and has the opportunity to work for the most prestigious firms. He succeeds by making only minor adjustments to the classic architecture that has come before him. He succeeds by providing people with architecture that is familiar and comfortable for them.
Howard Roark however struggles as an architect. His designs are bold, innovative and treat each project on its own individual merits, rather than an assignment to tweak the mould of what has been done before.
The author makes it perfectly clear who the more talented architect is – it is Roark, however it is Keating who gets the publicity, the praise and the rewards.
In risk management do we reward those who develop solutions based solely on tweaking what has been done before, or do we reward bold thinkers who develop innovative solutions and techniques that are appropriate and unique to the situation at hand?
You will have to read “The Fountainhead” to find out what ultimately happened to Howard and Peter. In risk management we are still writing the story.
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